Sources said the pubs and liquor retailing group had asked the two banks to provide advice on dealing with shareholder activism and engaging with investors.
Endeavour has tasked Citi and Jarden with advising it on what is turning into a difficult dispute with dissident shareholder Bruce Mathieson and the man he is backing for a spot on the board, ex-Myer chairman Bill Wavish.
Naturally, some would wonder if the bankers – who advised Woolworths when the supermarket giant spun off its pubs and hotels business and listed it on the ASX as Endeavour – were also working on other options. There is no indication of that as yet. Then there’s Luminis Partners, specialists in dealmaking. They’ve sprung up, along with Arnold Bloch Leibler, on-side with the Mathieson family. Both sides are gearing up for the annual meeting later this month, where Wavish, who was on the board of Dick Smith Electronics before its spectacular collapse after being floated by Anchorage Capital Partners. He left the company’s board 10 months before it collapsed in early 2016.
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